cryptochi1986

cryptochi1986

In this analysis, I endeavor to elucidate the dynamics of market sentiment and investor psychology as reflected in the price action of Bitcoin. Drawing from past interactions and observations on social media platforms, I aim to integrate qualitative insights with quantitative data derived from Bitcoin price charts. By doing so, I seek to provide a nuanced...

cryptochi1986

With the Bitcoin Halving just 36 days away(CMC), the market has witnessed a noteworthy 55% price surge since my previous analysis(W6), defying earlier expectations. During Weeks 9 and 10, Bitcoin's price embarked on a robust uptrend, which was supported by volume. Currently, Bitcoin is trading just shy of its previous all-time high (ATH), a level that might...

cryptochi1986 Updated 

Examining the weekly chart, there are a lot of interesting observations as the Halving approaches in less than 10 weeks. The price is forming a triangle pattern just below a major resistance level. A sell-off candle followed by a buy back candle cleared the weak hand liquidity within a 3-week span. Currently, the price bar is consolidating into a triangle edge,...

cryptochi1986

History Never Repeats, But it Often Rhymes When analyzing the potential impact of the 2024 Bitcoin halving, it is wise to have an in-depth understanding of the price action of previous halving in 2020. This can help us to identify potential patterns and similarities that could play out in the current cycle. Pre-Halving Price Action In the lead-up to the 2022...

10:11

cryptochi1986

Sharing my view on #bitcoin as many are asking where would the price go. Also this is good time to start DCA if you are not doing it

cryptochi1986

CME expiry did not make much impact on pricing, Both Weekly and Daily candles are reflected neutral/indecisive candle structure. I'll be looking at how RSI will be working against the trendline resistance.

cryptochi1986

Within the week there was change of sentiment which we can consider due to some positive news coming in comparison to start of the month. As we are still pending CME expiration, I will stand with my bear bias for now on. RSI in daily timeframe did not make a oversold, which took me by surprise. Given the amount of negative news, not making a oversold reflects...

cryptochi1986

As usual, I'm looking at multiple time frames for BINANCE:BTCUSDT . Since Week 21, when I last posted in here. I have been in bearish outlook. Seems recent turmoil was supporting my bear bias. Still I did not see a oversold RSI in daily time frame. Hence I expect bearish outlook to continue as we are bearing a CME close for a month and quarter. Hence I'm...

07:23

cryptochi1986

Just an extension to what I publish earlier this week. My mic is not the best, so bear with me please.

cryptochi1986

Bitcoin Halving is the supply reduction event which occurs every 210,000 Blocks until all 21 Million coins are mined. At genesis, there were 50 Bitcoins minted each block. Each block takes 10 minutes hence it would take approximately 4 years to mine 210,000 blocks. First Halving occurred on November 28, 2012, at block height of 210,000. Afterward Block reward...

cryptochi1986

Indicators and Drawings Used Channels are used to understand key levels and movement trends. Volume is used to understand if it’s bullish or bearish movement Daily EMA used as the key trend indicator with readings of 13 and 21. In addition in lower time frames the same EMA of chart interval is used. EMA is a lagging indicator. RSI of 14 is used as the oscillator...

cryptochi1986

Indicators and Drawings Used Channels are used to understand key levels and movement trends. Volume is used to understand if it’s bullish or bearish movement Daily EMA used as the key trend indicator with readings of 13 and 21. In addition in lower time frames the same EMA of chart interval is used. EMA is a lagging indicator. RSI of 14 is used as the...

cryptochi1986

Indicators and Drawings Used BINANCE:BTCUSDT Channels are used to understand key levels and movement trends. Daily EMA used as the key trend indicator with readings of 13 and 21. In addition in lower time frames the same EMA of chart interval is used. RSI of 14 is used as the oscillator indicator. Monthly Chart Price Action April has an indecisive...

cryptochi1986

Wall Street Cheat Sheet Psychology of a Market Cycle is a very famous one among traders and investors. While this sheet was made with the intention of Stock Market, I see it's been used much in Crypto world as well. In this chart I try to plot the respective psychological stages in the chart it self based on my interaction with local traders/investors. This is...

cryptochi1986

CME Gap: These are price windows which are created due to price fluctuations on weekends where CME is closed but Bitcoin is still active. We had 2 major unfilled gaps from the 2022 down trend. This week one of those gaps from 2022 June is now filled while the gap from May is still pending.  Also there was a minor gap created in December which was cleared this...

cryptochi1986

Recently I added VRVP (Volume Profile Visible Range) into my Support and Resistance BTC chart. Something I found interesting in this was the Point of Control (POC) Previous cycle ATH is the most active price point for trading engagement. This provides me a fundamental insight that there were a lot of investors/trades were expecting retest of previous ATH. This is...

06:15

cryptochi1986 Updated 

Let have a quick look at what happened to $BITCOIN last few days! Were you aware of the CME Expiration which happened on 24th February? if not please check my CME Expiry threads (2023 August is linked to this post ) If you like to know more about Bitcoin and Crypto come join in our local groups (Only for Sri Lankans)

cryptochi1986

BTC Price - Last week we saw a 20% price rise in bitcoin BTC Dominance - In comparison we saw a 4% increase in dominance